Upgrade to remove ads
Only $35.99/year

Audit - Roger CPA Review Mnemonics

Terms in this set (15)

10 GAAS Standards: TIPPICANOE
T - Training and proficiency
I - Independence
P - Professional care (due)
P - Planning and supervision
I - Internal control
C - Corroborative evidence
A - Accounting principles conform w/ GAAP
N - No new accounting principles (consistency)
O - Omitted information disclosures (none)
E - Expression of opinion
Communications with Predecessor Auditor: RID-C
R - Reasons for change
I - Integrity of management
D - Disagreements w/ management
C - Communications w/ management or
governance
Communication with Governance: DISAPPROVE
D - Disagreements w/ management
I - Illegal acts
S - Significant policies
A - Adjustments
P - Prior discussions w/ management
P - Problems
R - Responsibilities of auditor
O - Other info and other responsibilities
V - Views of other accountants
E - Estimates
Engagement Letter Components: FACSIMILE
F - Fees
A - Auditor responsibilities
C - Confirmation of engagement
S - Scope of audit
I - Internal control
M - Management responsibilities
I - Irregularities (fraud)
L - Illegal acts
E - Errors
Services that Require Independence: CARES
C - Compilations (unless explicitly stated)
A - Agreed-upon procedures
R - Reviews
E - Examinations (audits)
S - Special reports
(T)ippicanoe
Training and proficiency
t(I)ppicanoe
Independence
ti(P)picanoe
Professional care
tip(P)icanoe
Planning and supervision
tipp(I)canoe
Internal control
tippi(C)anoe
Corroborative evidence
tippic(A)noe
Accounting principles
tippica(N)oe
No new rules
tippican(O)e
Omitted information disclosures
tippicano(E)
Express an opinion
Sets with similar terms